madamswer,
This scenario still bothers me greatly, and in the context (your context) that shorting is good for the market...you know, stabilizes everything, achieves pricing accuracy.
So I thought I would throw the ball back to you; please do me a favour and fill in the gaps here.
(1) A few million shares were recalled. A holder who would need to be a large holder "decided" quite suddenly to recall a block of shares from a "loan pool". The loan pool shares were there for the express purpose of enabling shorting of MSB stock.
(2) The recall one assumes came like a bolt from hell for someone. It precipitated a wave of short covering on market. I assume the large lender (above) was not totally ignorant of what might be the effect of the withdrawal - after all I think we can assume he is a professional player...you know, ear to the ground, all that sort of thing.
(3) The short covering (buying) drove the share price up toward $5.88 in only a few days - thereby putting the original holder in lets say a a 30%+ better position on paper.
HOW VERY CONVENIENT FOR HIM!!!!!!
(4) Then on your theory, those same shares started hitting the ASX as sell orders. I didn't bother checking the trade volume yet - but I will. How very wonderful for the original holder who: got his 1% Judas margin you told us about by lending out shares in our company, then managed to accidentally precipitate a short covering bonanza - which he SOLD INTO!!!
I don't suppose you could give us a clue to the seller identity.
Anyway maybe you were wrong.
Maybe the whole festering rotten thing is the best interests of the market.
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Last
$1.14 |
Change
-0.015(1.30%) |
Mkt cap ! $1.295B |
Open | High | Low | Value | Volume |
$1.15 | $1.15 | $1.14 | $841.5K | 737.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
28 | 78519 | $1.14 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.14 | 2051 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
22 | 53954 | 1.135 |
17 | 106887 | 1.130 |
10 | 97853 | 1.125 |
11 | 70603 | 1.120 |
4 | 21876 | 1.115 |
Price($) | Vol. | No. |
---|---|---|
1.140 | 5667 | 3 |
1.145 | 69039 | 19 |
1.150 | 164633 | 10 |
1.155 | 44834 | 7 |
1.160 | 19298 | 2 |
Last trade - 10.54am 22/07/2024 (20 minute delay) ? |
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